It is quite astonishing: Viktor Orbán’s heyday in Hungary began when, following the end of massive currency speculation (carry trades) that had massively overvalued the Hungarian forint, the forint plummeted and left many homeowners who had taken on debt in foreign currencies (Swiss francs or Japanese yen) due to low interest rates in enormous difficulty. …
Today saw yet another interesting and extremely important statistic that has gone unnoticed by both the media and so-called economic science. As it does every month, Eurostat published the trend in producer prices for the manufacturing sector. The latest available figure is for February, …
Heiner Flassbeck and Erik Münster
In a recent speech, ECB Executive Board member Isabel Schnabel compared the mandates of the European and American central banks and came to the surprising conclusion that the ECB’s singular mandate (namely, to have price stability as its sole objective) is on a par with the Fed’s dual mandate (to pursue employment and price stability as equally important objectives). …
Heiner Flassbeck and Patrick Kaczmarczyk
Things have gone quiet around Argentina. The mainstream European press, which euphorically celebrated the president with chainsaws during his election, has largely remained silent two years after that election. Isolated reports of success, such as those published by the Friedrich Naumann Foundation for Freedom in December 2025, …
